Our Estate Planning Process

Our Estate Planning Process involves 8 easy steps to create a plan that reflects what’s most important to you and your loved ones.

As we go through the various stages of life, we spend an enormous amount of time on accumulating wealth and building assets for our family and loved ones.  However, passing on your wealth and assets without unnecessary taxes or expenses requires prudent estate planning.

Your estate plan is as unique as you are, and taking the time to complete your estate plan now will enable you to provide for those closest to you.


At Optimize Wealth Management, we have designed a very simple 8 step process to design your own personalized estate plan and we encourage you to start today!

Step 1: Seek out the right advisors and professionals

The complexity of your situation will determine which professionals you will need and what expertise is required.

Step 2: Design a family balance sheet

A household balance sheet is a summary of your family’s financial situation that ultimately determines your family’s net worth.

Step 3: Determine your life insurance needs

It’s critical to work with your advisor to determine what your optimal insurance needs are. Life insurance proceeds can be used to replace income, pay estate expenses, or leave an inheritance.

Step 4: Create your Will

The purpose of your Will is to designate such critical components as the identity of your executor, how assets are to be distributed upon death, and any needed guardians for your dependents.

Step 5: Establish your powers of attorney

This step helps you to protect your assets in the event that you are not able to manage them or make the necessary ongoing decisions. You can prearrange through a power of attorney precisely how you would like someone to make financial or personal care decisions.

Step 6: Minimize taxes and probate fees

When your estate incurs income tax or probate fees from the government, your beneficiaries will ultimately receive less monies. The goal of estate planning is therefore to minimize these types of expenses by reducing or eliminating which assets pass through probate or which trigger taxes upon transfer of ownership.

Step 7: Keep track of accounts and important information

One of the more challenging elements of settling an estate for an executor or family members is in trying to gather all of the relevant information. For this reason, try to centralize all household information such as identification papers, financial account information, and legal documents. Once you have documented all of these items, store a copy and let someone close to you know where it is.

Step 8: Review and update regularly

Once your estate plan is properly designed, it must be reviewed and updated on an annual basis. Summarizing and tracking current values of your financial and non-financial assets will help you progress towards your specific estate planning goals. This should include a review of such items as your insurance coverage, beneficiary designations, registered investment accounts, and pensions.

As can be seen, estate planning does not have to be a long and complicated process.  And best of all, an Optimize Advisor is ready to take the first step with you and create an Estate Plan specific to your particular goals and objectives.

Learn More About the Benefits of Estate Planning


If you are looking for holistic advice which covers your entire financial situation, we would be keen to discuss how we could work with you and your family. An Optimize Advisor is always ready to take that step with you and design a financial solution specific to your particular goals and objectives.

Need Advice? Speak to an Optimize Advisor today and receive a Complimentary Plan to achieve your specific goals!

Call 1-866-209-6862 or fill out the form below.

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